Holidays Help Fuel $42 Million in Prestige Property Sales

Posted by Jon Quayle — May 21, 2007

Prestige boutique property specialist GQ Property of Mooloolaba on Queensland’s
Sunshine Coast, is turning lifestyle holiday rentals into luxury property ownership as visitors like what they see and seek to buy their own piece of paradise.GQ Property Sales Director, Simon Guilfoyle, said today the central
Sunshine
Coast summer holiday season had fuelled an outstanding sales record with 68 contracts signed over four months representing around $42 million in sales.“Visitors staying in beachside waterfront properties are increasingly recognising the value of owning similar properties that not only meet their own lifestyle needs, but are investments that can achieve very solid returns,” Guilfoyle said.Guilfoyle said sales in premium beachfront and waterfront precincts around Mooloolaba, Minyama, Alexandra Headland and Maroochydore’s Duporth Avenue during the past two years had defied softening market forecasts by increasing at a compounding rate of around 10 percent in value per annum.“Purchase decisions have been well supported through capital appreciation and excellent tariffs for prestige serviced holiday apartments and homes, and referrals from satisfied clients who have enjoyed a substantial increase in their net worth,” he said.Guilfoyle said projected figures based on GQ’s summer rentals would see around 8,000 people require serviced holiday apartments over the next 12 months.GQ’s holiday and rentals business has achieved significant growth in letting stock since its acquisition of Property Mooloolaba, along with an extensive database of potential buyers.“What we are experiencing is many of the visitors familiar with prime waterfront areas, particularly in Mooloolaba, want to make a property acquisition,” Guilfoyle said.He said the budget to luxury overnight tariffs was $230 on average, rising to $665 per night for a prestige apartment during peak periods. These were among the highest in the state.“The holiday tariffs we have achieved, combined with the capital gain being realized by waterfront apartments and houses, is proving to be very appealing to astute investors,” Guilfoyle said.